ExxonMobil Increases Stabroek Resource Estimate Again

New discovery at Cataback builds confidence in the greater Turbot area.

Noble Tom Madden drillship.
Noble Tom Madden drillship.

ExxonMobil has increased the estimated overall resource at its Stabroek Block offshore Guyana to around 10 billion bbl, reflecting the recent exploration success at its Cataback prospect. The Cataback-1 well encountered 243 ft of net pay in high-quality hydrocarbon-bearing sandstone reservoirs. The find is located approximately 3.7 miles east of Turbot-1 and was drilled in 5,928 ft of water by the drillship Noble Tom Madden. Success at Cataback brings the total significant discoveries to more than 20 within the Stabroek Block.

The Stabroek Block spans 6.6 million acres. ExxonMobil affiliate Esso Exploration and Production Guyana Limited is operator and holds 45% interest in the block. Hess Guyana Exploration holds 30% interest, and CNOOC Petroleum Guyana Limited holds the remaining 25% stake.